Monday, 18 September 2017

Dixon Technologies (India) Limited have made a strong emergence on the Exchanges by listing at Rs 2,725, a 54 percent premium against its IPO price of Rs 1,766 per share on the NSE and BSE.

The stock respectively hit a high of Rs 2,908 and Rs 2,899 on BSE and NSE after few minutes of its listing. It was trading at Rs 2,837, a 61 percent over its offer price.

Dixon Technologies raised Rs 600 crore though IPO, which has got stellar response from the all group of investors. The issue was over-subscribed 118 times, got bids for 280 million shares against the total issue size of 2.38 million shares.

It is stated that Dixon Technologies would carry on reporting higher revenue and growth in margins owing to its presence in high growth segments, experienced management and growing share of ODM segment. The company has registered return on capital of an enormous 33.3 percent in FY 2017. Moreover, the company has been building up positive cash flow from operations over the last five years and negligible debt post IPO.